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Hassett says AI isn't costing anybody their job right now, but tech layoffs keep coming
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White House National Economic Council Director Kevin Hassett on Monday shrugged off any negative impact of artificial intelligence on employment, saying the emergent technology isn't costing anyone their jobs right now.
Key facts
- Atlassian, in March, cut 1,600 jobs to "self-fund further investment in AI and enterprise sales, while strengthening our financial profile," CEO Mike Cannon-Brookes said in a blog post
- There's no sign in the data that AI is costing anybody their job right now, but we are studying the future of AI and what it means for the workforce, so we've got a big taskforce on that," Hassett
- Block announced that it would lay off nearly 4,000 employees in February, reducing the firm's headcount by nearly half
- White House National Economic Council Director Kevin Hassett on Monday shrugged off any negative impact of artificial intelligence on employment, saying the emergent technology isn't costing anyone
Summary
"There's no sign in the data that AI is costing anybody their job right now, but we are studying the future of AI and what it means for the workforce, so we've got a big taskforce on that," Hassett told CNBC's "Squawk Box. Hassett's comments come amid a wave of tech layoffs, as companies like Amazon, Meta and Oracle have announced rounds of job cuts, with some emphasizing AI's role in automating work and boosting productivity with lower headcounts. Block announced that it would lay off nearly 4,000 employees in February, reducing the firm's headcount by nearly half.